Pinterest (NYSE:PINS) saw more than a 4% surge intra-day today after two Wall Street analysts upgraded it to a Buy rating. They were impressed by Pinterest’s recent investor event, highlighting its positive outlook and reasonable long-term goals.

Citi analysts upgraded the stock to Buy from Neutral with a $36 price target, citing confidence in sustained user engagement, improved advertising monetization, and expanded adjusted EBITDA margins.

DA Davidson analysts raised the rating to Buy from Neutral and increased the price target to $35. The analysts’ upgrade is based on their confidence in Pinterest’s ability to meet financial targets by enhancing engagement, monetization across regions, and maintaining financial discipline.

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